The Payment Time Case

 
Purpose of Assignment 
The purpose of the assignment is to develop students’ abilities in using data sets to apply the concepts of sampling distributions and confidence intervals to make management decisions. 
Assignment Steps 
Resources: Microsoft Excel®, The Payment Time Case Study, The Payment Time Case Data Set
Review the Payment Time Case Study and Data Set. 
Develop a 700-word report including the following calculations and using the information to determine whether the new billing system has reduced the mean bill payment time:

Assuming the standard deviation of the payment times for all payments is 4.2 days, construct a 95% confidence interval estimate to determine whether the new billing system was effective. State the interpretation of 95% confidence interval and state whether or not the billing system was effective.
Using the 95% confidence interval, can we be 95% confident that µ ≤ 19.5 days?
Using the 99% confidence interval, can we be 99% confident that µ ≤ 19.5 days?
If the population mean payment time is 19.5 days, what is the probability of observing a sample mean payment time of 65 invoices less than or equal to 18.1077 days? 

find the cost of your paper

Info tech and global economy

Statement State legislatures continue to advance policy proposals to address cyber threats directed at governments and private businesses. As threats continue to evolve and expand and as the pace of….

“A” WORK PLAGIARISM FREE

Identify a public policy issue you consider important, then compare a selected theory and determine what factors like regulations, special interest groups, or principle stakeholders, assisted policy makers during the….

english 101

For this discussion, you will get started on your annotated bibliography by offering an APA citation, a summary paragraph and an evaluation paragraph for one source. The source may offer….